Recruitment 'halted amid credit crunch worry'

Recruitment 'halted amid credit crunch worry'

6.8.2008

Recruiters in the UK are becoming more reluctant to take on employees and recruitment rates have hit their lowest in five years, a report has found.

Permanent job vacancies fell by their fastest in seven years, the Recruitment and Employment Federation's (REC) Report on jobs found.

The report, based on the information of 400 UK recruitment agencies and employers also found the expansion of temporary job placements to be at its lowest since 2003.

REC chief executive Kevin Green commented: "Business confidence is low and as a result, employers are becoming much more cautious in their approach to recruiting. Following years of a candidate-driven jobs market, the balance has shifted."

He also went on to say that it is possible that employers now have the advantage in the recruitment market.

As the economic outlook shows little improvement and fuel and food prices continue to rise, a Nationwide report recently found consumer confidence has dropped by 46 per cent over the last year.

15490: webrecruit are the UK’s No.1 flat-fee online recruiter (Link)